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    Property profile & analytics

    21919 Clay Rd, Unit 351 Katy, TX 77449-6460

    • Garden apartment buildings
    • 25,042 SF
    • 15.25 lot acres
    OFF-MARKET
    Last Sale
    May 14, 2025
    Value Estimations
    $1,105,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-0432714
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • TD Cube Fashion / (Bike/Boat/Book/etc) Store
    • Upchurchs Music Radio / Radio Station / Telecommunications Service
    • KOR Ministries LLC / Church
    • Tree of Life Landscaping Services LLC / Landscaping / General Contractor
    • Seville at Clay Crossing / Apartment Complex

    Property Details for 21919 Clay Rd

    Year built
    2019
    Construction
    METAL FRAME
    Lot size
    15.25 lot acres
    Property size
    25,042 SF
    Property type
    Garden apartment buildings
    APN
    1382060010001
    APU
    1382060010001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $850,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,363,000
      Market price range: $330k - $1.36M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $665,000
      Current use
      AUTO REPAIR, GARAGE
      $1,600,000
      Change: +140% Conversion: Difficult
      WAREHOUSE, STORAGE
      $1,060,000
      Change: +59% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $790,000
      Change: +18% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Katy
    County
    Harris
    State
    Texas
    Longitude
    -95.7586
    Latitude
    29.83
    CBSA code
    26420
    CBSA name
    HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $971,335
    $5,112,078
    $48,386,802
    $53,498,880
    -
    $5,112,078
    $48,386,802
    $53,498,880

    Comparable in this City

    • Value Estimation
      $1,080,000
      38,706 SF

      23010 Franz Rd, Unit 324

      GARDEN APT, COURT APT (5+ UNITS) • 38,706 SF
      23010 Franz Rd, Katy, TX 77449-2680
      View Details
    • Value Estimation
      $1,315,000
      22,356 SF

      2000 Westborough Dr, Unit 320

      GARDEN APT, COURT APT (5+ UNITS) • 22,356 SF
      2000 Westborough Dr, Katy, TX 77449-3277
      View Details
    • Value Estimation
      $635,000
      5,878 SF

      20235 Kieth Harrow Blvd, Unit 276

      GARDEN APT, COURT APT (5+ UNITS) • 5,878 SF
      20235 Kieth Harrow Blvd, Katy, TX 77449-6988
      View Details
    • Value Estimation
      $1,045,000
      33,355 SF

      1550 Westborough Dr, Unit 340

      GARDEN APT, COURT APT (5+ UNITS) • 33,355 SF
      1550 Westborough Dr, Katy, TX 77449-1580
      View Details
    • Value Estimation
      $615,000
      6,454 SF

      21455 Merchants Way, Unit 138

      GARDEN APT, COURT APT (5+ UNITS) • 6,454 SF
      21455 Merchants Way, Katy, TX 77449-7332
      View Details
    • Value Estimation by Request
      14,576 SF

      2013 Fry Rd, Unit 168

      GARDEN APT, COURT APT (5+ UNITS) • 14,576 SF
      2013 Fry Rd, Katy, TX 77449-3353
      View Details

    Similar Nearby for Sale

    • $759,000
      Pending

      Katy 4-Plex New Construction

      New construction 4-plex in Katy Waterstone community.
      3255-3259 Sauce Pan Way, Katy, TX 77449
      View Details
    • $410,000
      Pending

      Katy Duplexes with Garages

      New construction duplexes in gated Katy community, ideal for investors.
      3262 Frying Pan Pl, Katy, TX 77449
      View Details
    • Contact for pricing
      13.49 Acres

      Katy Land: 13.49 Acres

      Prime Katy commercial/residential land
      0 Nec Clay Rd @ Vineyard Mdw Trl, Katy, TX 77449
      View Details
    • Contact for pricing
      5.29 Acres

      Katy Land: Two Prime Parcels

      18.78 Acres, Excellent Location
      0 Clay Rd @ Vineyard Mdw Trl, Katy, TX 77449
      View Details
    • Contact for pricing
      2.20 Acres

      West Houston Commercial Land - 2.2 Acres

      Prime West Houston acreage, ideal retail/specialty use.
      0 Mason Rd And Franz Rd, Katy, TX 77449
      View Details
    • Contact for pricing

      Unrestricted Land in High-Growth Corridor

      19.86 acres of unrestricted land ideal for various developments.
      20747 Clay Rd, Katy, TX 77449
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      14,262 SF

      Katy Retail Space: 10,000 SF Available

      Prime Katy retail space, 10,000 SF, high-traffic location.
      5828 Fry Rd, Katy, TX 77449
      View Details
    • $24 SF/Yr
      2,450 SF

      Mayde Creek Village Retail Space

      Katy, TX Retail Space - 2,800 SF Available
      2211 Fry Rd, Houston, TX 77449
      View Details
    • Contact for pricing

      Retail Pads Available for Lease

      8.55 acres divisible into retail pads for ground lease/sale.
      Morton Ranch Rd, Katy, TX 77449
      View Details
    • Contact for pricing
      2,333 SF

      Shops on Fry Retail Space

      Katy, TX Retail Center: 2,333 SF Available
      6078 Fry Rd, Katy, TX 77449
      View Details
    • Contact for pricing
      88,625 SF

      Eagle Ranch Shopping Center Lease

      Katy Retail Space: Kroger-Anchored
      6037 Fry Rd, Park Row, TX 77449
      View Details
    • $14 SF/Yr
      24,000 SF

      Katy Flex Warehouse Space Available

      Modern flex space, 1,500-3,000 sq ft.
      3130 Fry Rd, Katy, TX 77449
      View Details
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    21919 Clay Rd, Unit 351
    Katy, TX 77449-6460
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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